CX Institutional Purchases 23,940 Shares of General Motors (NYSE:GM)

CX Institutional lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,531 shares of the auto manufacturer’s stock after acquiring an additional 23,940 shares during the quarter. CX Institutional’s holdings in General Motors were worth $5,941,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in shares of General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after acquiring an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. lifted its position in shares of General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after buying an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC boosted its holdings in shares of General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its position in shares of General Motors by 14.9% in the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after buying an additional 21,000 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on GM. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.05.

General Motors Price Performance

General Motors stock opened at $54.18 on Friday. The firm has a market capitalization of $59.58 billion, a PE ratio of 5.78, a P/E/G ratio of 0.38 and a beta of 1.42. General Motors has a 52 week low of $34.71 and a 52 week high of $61.24. The firm’s 50-day simple moving average is $53.30 and its 200 day simple moving average is $49.76. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the firm posted $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 514,344 shares of company stock valued at $28,977,691 over the last quarter. Insiders own 0.72% of the company’s stock.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.